July 2024 Update – I’ll no longer be providing Topstep updates as I’m no longer affiliated with the company. I encourage you to check out my Top Funded Futures Programs as there are several alternatives I highly recommend.
Topstep is the original online prop firm for funded futures trader. In 2022 they celebrated 10 years in business. Topstep is also the very first funded program I went through and passed. Created by a former CME pit trader Michael Patek, Topstep has a lot of credibility and professionalism. Learn more about Topstep in the following.
You can also read my review of Topstep here.
Also, be sure to check my Exclusive Promos page – I always have a discount on Topstep just for you!
Is Topstep Legit? Do They Pay Their Traders?
Yes absolutely they are both legitimate and pay their traders regularly. I would not endorse them if they did not. Topstep has a long history of being in business, and you can find plenty of their funded traders in their own Facebook group, plenty of whom are paid weekly. I also know several funded Topstep traders personally.
What Is The Profit Split With Topstep?
Topstep has keep the profit split simple with the first $10,000 100% the traders, and then 90/10 thereafter.
Is There A Daily Draw Down With Topstep?
Topstep does have a daily draw down limit. That said you do not lose your account if you hit the Daily Loss Limit, you will just be locked out for the remainder of the day. The amount of the draw down varies by account size.
What Are The Rules of Topstep to Pass?
The rules to pass are honestly pretty straight forward.
- Meet the profit goal for your chosen account size
- Do not violate the Maximum Loss Limit (ie. End of Day Drawdown)
- Do not make more than 50% of the total profit in 1 day
That is essentially it. Sounds simple, but don’t take any evaluation lightly. You still have to manage your own risk to not violate the maximum loss limit. If you stick to your trading plan, passing isn’t that difficult. I’ve passed evaluations with pretty much every top tier firm myself.
What Are The Commissions For Trading Futures With Topstep?
The commissions vary by product and which software you use, if you visit the Help Section of their site there is a list with the commissions and some examples.
What Software Can I Use For Topstep Evaluation?
Topstep is one firm that has many options.
Rithmic will be the data feed for Topstep if you choose to use NinjaTrader. Rithmic does have their own software, RTrader Pro which is free. As well Topstep provides a free license of NinjaTrader to use as well.
You also have the option to use TSTrader, which is a Topstep version of Tradovate’s software. It works well, and has both an app version, mobile version, or you can use it right on a browser.
In 2024 Topstep launched TopstepX, a web based trading platform that is pretty customizable. They also add incentives to use it, the biggest one being you are allowed to have up to 5 XFA accounts if you chose TopstepX as your trading platform (otherwise is only 3).
On top of these free options, you can use any software package that is capable of connecting to Rithmic. There are several out there. For example I use Jigsaw Daytradr myself as an in depth order flow scalping tool.
How Do I Withdraw Money From Topstep?
Topstep withdrawals are easy to do. They have a full FAQs about it, but in general the process is:
- Withdrawals are processed daily
- You must submit your request at any time, they have a form to fill out in your dashboard
- You can only withdraw 50% of your total profits
- You must have 5 profitable trading days between withdrawal requests
- After your first payout they will also refund your last payment for the evaluation
- Topstep also adjusted their payout policy where now after 30 profitable days you can withdraw 100% of your profits if you like
What Happens If A Trader Made a Million Dollars (insert any big number here), Wouldn’t They Bankrupt The Company?
No. Please think about this for just a second.
First, you have zero incentive to keep trading with a prop firm when you are making that much money. Remember the 90/10 split? If you are capable of making that kind of money you would not want to give up 10%. You would take your profits far sooner and open a brokerage account. As well, I hate to tell you but chances are you aren’t a million dollar trader.
Second, your $1 million isn’t coming out of the company’s pockets, they would be actual realized profits from trading. With Topstep you are in a fully funded account.
I think this question comes from people with delusions of grandeur more than out of a realistic situation.
What Products Can I Trade With Topstep?
Basically any CME Group listed futures product. Be sure to check their FAQs where they do list them out in detail. In general though, any futures CME Group product. You can not trade FX, stocks or options with Topstep.
What Are The Monthly Fees After Passing with Topstep?
Topstep itself does not charge a monthly fee. You will need to pay for data though. Depending on which platform you use, they are $116 to $132 per market (Comex, Nymex, CBOT, etc) but ONLY if you are in a LIVE account. The XFA accounts are basically sim-funded, and you don’t have to pay for data unless you want Level 2 which is $39.
If I Break A Rule Can I Reset My Account at Topstep?
Yes if you break a rule during the evaluation phase you can reset your account. The amounts vary by account size: $49 for the $50K, $99 for the $100k and $149 for the $150K. You can reset as often as you need to. Keep in mind your monthly fee though as well. If you are close to the 1 month rebill, Topstep actually will reset your account for free on the rebill, only if you are below the starting balance and/or have broken a rule.
Once you are funded in a Funded Account, you can not reset your account. If you break a rule once funded you would have to go through the evaluation again.
Conclusion
Hopefully the above questions and answers cover most of the questions you may have about Topstep. Be sure to check out my Exclusive Deals Page for the latest Topstep promo!
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Risk Disclosure:
Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Hypothetical Performance Disclosure:
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight.
In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
You can read more here: Risk Disclosure
Affiliate Disclosure:
The external links on my site and in my video descriptions to trader evaluation companies and software companies are primarily affiliate links. I earn a commission from these companies on any sale made from people visiting these links. That said, I only recommend companies and software I personally use and actually do recommend. Believe me, I turn down a lot of companies who approach me. You can read my full Affiliate Disclosure here.
Additional Disclosure:
The content provided is for informational purposes only. I do my best to keep the content current and accurate by updating it frequently. Sometimes the actual data, rules, requirements and other can differ from what’s stated on our website. CanadianFuturesTrader.ca is an independent website. You should always consult the rules, faqs, knowledge base and support of any of the websites and companies we link to or talk about on our site. The information on their site will always be what ultimately dictates the current rules of their program, software or other. While we are independent, we may be compensated for advertisements, sponsored products, or when you click on a link on our website. The contributors and authors are not registered or certified financial advisors. You should consult a financial professional before making any financial decisions.